Gold moving inside the box area

Bearish pressure on gold prices continues and now the price has entered the green box area. As long as the price can maintain its position and does not form a close below this area, there is an opportunity for an upward reversal. Meanwhile, if there is a close below the area then the decline could continue towards the daily SMA 200.

Today’s critical levels to watch:

Support: $2,143, $2,074, $2,069, $2,000

Resistance: $2,400

Silver testing $29.00

Another bearish close occurred on silver prices yesterday below the $29.00 point. It seems that this bearish situation will not end yet and traders will prepare for a deeper decline. The $25.00 – $26.00 area could be a downside target that traders can keep an eye on. On the other hand, if the price can bounce up from the current point and exceed yesterday’s high then the bullish trend can continue immediately.

Today’s Critical levels to watch:

Support: $30.00, $26.00, $25.00, $23.90, $23.00

Resistance: $31.50, $35.25

Crude oil trading above $80.00

Crude oil prices experienced a bearish closing yesterday. For now, the price is still moving not far from the $80.00 point and traders will observe the development of price movements. If the price can continue rising then the $83.85 point is the upside target. Meanwhile, a close below $80.00 could pave the way for a decline towards $77.13.

Today’s critical level to watch:

Support: $80.00, $77.13, $70.00

Resistance: $83.85, $85.00, $90.00